Despite years of critics dismissing them as a niche fad, NFTs continue to make headway in the corporate world, being embraced by some of the most notable brands on the planet. One of the newest brands to do this is Rolex, the luxury timepiece maker.
This comes as the brand has applied for trademarks for NFT-related products as per documents filed in late October 2022.
Rolex Comes to the Metaverse
As per the filing, Rolex is looking to potentially launch not only NFTs themselves but software to facilitate the auctioning of digital assets including watches. The brand is also looking at creating a platform for buyers and sellers to trade similar assets. We’ve seen consumer brands file for trademarks to sell NFTs but it is interesting that Rolex seems to be considering a marketplace of its own.
At the same time, such a move makes sense. Rolex timepieces are already collectables in the real world and are often resold. Should the company release NFT timepieces, those too will be treated as collectables in more ways than one.
Having an in-house platform to trade them means that the company can have some control over how its digital assets and brand are handled in the virtual space.
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Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.